NAB Credit Cards

NAB Rewards Platinum Credit Card

Updated 6 April 2020

The NAB Rewards Platinum Card lets you earn 60,000 Bonus Points when you spend $1,000 on everyday purchases within 60 days of account opening. With the NAB Rewards program you can redeem your rewards points for a wide range of products, travel, technology and experiences. Earn 1 NAB Rewards Points for every dollar spent on everyday purchases. Access to seven complimentary insurances including Overseas Travel Insurance when you make an eligible purchase.

Creditcard.com.au review

Editor Review

NAB Rewards Platinum Credit Card

Roland Bleyer

Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.

The NAB Rewards Platinum Credit Card

Allowing you to earn NAB Rewards on your credit card spending, the NAB Rewards Platinum Credit Card is a rewards card packed with extras – and some very enticing introductory offers as well. If you apply today, you could benefit from 0% p.a. on balance transfers for six months, plus 60,000 bonus NAB Rewards Points when you spend $1,000 on the card within 60 days of account opening.

What we love...

What do we love? It’s hard to go past that bonus points offer. If you apply for the NAB Rewards Platinum Credit Card today, you can take home 60,000 bonus NAB Rewards Points, as long as you spend $1,000 on the card within 60 days of account opening. So, what does 60,000 NAB Rewards Points actually give you?

The NAB Rewards Program offers plenty of diversity. Having teamed up with Air New Zealand’s Airpoints, Cathay Pacific’s Asia Miles and Virgin’s Velocity Frequent Flyer, NAB Rewards lets members transfer points to their choice frequent flyer programs. So, if you want to earn Airpoints Dollars, that 60,000 points bonus would equate to $300 to spend on Air New Zealand flights.

Alongside a host of frequent flyer redemption options, NAB Rewards also lets members redeem points within the NAB Rewards Store. You can redeem your NAB Rewards Points for a wide range of gift cards, vouchers, homewares, technology, products, and travel with Webjet. And that bonus? 60,000 NAB Rewards Points could give you $300 in gift cards.

As for everyday earning on the NAB Rewards Program, there is an earn structure you’ll need to get your head around:

Earn 1 NAB Rewards Point for every $1 spent on everyday purchases,

Earn double points on purchases made in major department and hardware stores (including Myer, David Jones, Kmart, Target, Bunnings and Mitre 10),

Earn triple points with Webjet, when travelling overseas, or on overseas purchases made in Australia.

In terms of points redemption on frequent flyer programs, here’s how that stacks up:

3,000 NAB Rewards Points equals 15 Airpoints Dollars

3,000 NAB Rewards Points equals 1,000 Asia Miles

3,000 NAB Rewards Points equals 1,500 Velocity Frequent Flyer Points

What’s not so great...

Now for the not-so-fun stuff. If you choose to take advantage of the 0% p.a. balance transfer offer, be aware that there is a 2% balance transfer fee, and any transferred balance left unpaid at the end of the six month introductory period will revert to the card’s cash advance rate.

In terms of interest in general, both the card’s purchase rate and cash advance rate are relatively high, so try to avoid carrying a balance whenever possible. The card also has a fairly significant annual fee, but as long as you find value in the card, then the annual fee should pay for itself.

Why should you choose this card?

If you want to earn rewards on your credit card spending – and you’re not bothered about earning on the Qantas program – then the NAB Rewards Platinum Credit Card could be a fantastic option. NAB seems to have put a lot of work into the NAB Rewards Program, allowing members to choose between three very popular frequent flyer options, and a well-stocked NAB Rewards Store.

While the annual fee may be relatively high, you can choose to add one additional cardholder at no extra cost, allowing you to earn points faster. And, if you have existing credit card debt, you can take advantage of the card’s balance transfer offer of 0% p.a. on balance transfers for six months.

In terms of extras, you can benefit from the assistance of the NAB Concierge Service, advanced ticket sales with Visa Front Line access, and a full suite of complimentary insurance covers:

Overseas travel insurance for trips up to 90 days

Transport accident insurance

Interstate flight inconvenience insurance

Domestic hotel burglary insurance

Purchase protection insurance

Extended warranty insurance

Price protection insurance

Overall Rating

An excellent rewards card, the NAB Rewards Platinum Credit Card is perfect for cardholders looking to earn points on the NAB Rewards Program while enjoying an array of extras, plus 0% p.a. on balance transfers for six months, and 60,000 bonus NAB Rewards Points.

Minimum criteria to apply for this card

You have your personal details ready to complete the online application

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

9 questions (showing the latest 10 Q&As)

9 questions (Displaying latest Q&A)

Carrie

18 May 2020

Ive been moved from my NAB flybuys rewards card to the NAB rewards Platinum Card. Ive just been informed this. No option to keep the current card I have. Will I earn Flybuy points? Will I at least get the 60,000 points you get if you transfer?

Karen

11 September 2019

Do you have any cards that maximise Velocity points?

Roland

12 September 2019

Hi Karen, have a look at the Virgin High Flyer. This card comes with some huge bonus points plus 1 point per $1 spent (Capped at $8000 per month). Then the earn rates drops to 0.5 (uncapped). With NAB, you can use the standard Rewards Cards to earn Velocity points. You can transfer 3,000 NAB Rewards Points = 1,500 Velocity Points. So effectively on the NAB Rewards Signature you would earn 0.625 Velocity points per $1 spent. Bottom line, I would recommend the high flyer over a NAB card for earning Velocity points.

Grant

30 August 2017

is this the best card offered by NAB where I can have all my bonus points converted to Qantas frequent fliers? And if so, at what rate is the conversion done?

Roland

31 August 2017

Hi Grant, the NAB Qantas Rewards Signature is the best NAB credit card for maximising Qantas points. Current offer gives 75k bonus points and earn rate of 1 Qantas point per dollar spent up to $5,000 per statement on a Visa.

Leanne Withers

20 May 2017

Can I apply if I already have an NAB credit card? I will be travelling & want a backup card.

Roland

22 May 2017

Hi Leanne, you can apply. I did note in the terms that the offer is not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB offer. Though if you are not closing or transferring from your current NAB credit card then this should not be a problem. Best of luck with your application.

loan

23 April 2017

What is the minimum spend? CAN I Cancel it anytime without fee? With the NAB points, what can I buy with it?

Roland

26 April 2017

Hi Loan, the minimum spend for the points bonus is $2,500 within the first 90 days. You can cancel the card at anytime without penalty though as the points are NAB custom you would not be able to take these with you. You can check out the rewards available at https://rewards.nab.com.au/.

Hyacint

9 April 2017

Is there a limited time to use up the 80,000 reward points?

Roland

10 April 2017

Hi Hyacint, NAB Rewards points expire three years after they were earned. You can see if you have any points expiring in the next few months when you login to your internet banking.

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